Swedish Krona Rises To 2-day High Of Against Euro

23:45, 26th November 2015

(RTTNews) - The Swedish krona strengthened against the euro in the early European session on Friday.

In other economic news, data from Statistics Sweden showed that the nation's retail sales climbed a working-day-adjusted 5.0 percent year-over-year in October, slower than the 5.7 percent rise in September, which was revised up from a 3.7 percent gain reported earlier. Economists had expected a 3.8 percent increase for the month.

On a monthly basis, retail sales inched up 0.3 percent in October, below economists' expectations for a 0.6 percent hike. In September, prices had risen 1.2 percent. It was the second successive monthly increase.

Against the euro, the krona rose to a 2-day high of 9.2459 from an early low of 9.2769. At yesterday's close, the krona was trading at 9.2622 against the euro.

If the krona extends its uptrend, it is likely to find resistance around the 9.20 area.